Acquisition Related Information
On May 5, 2009, Shenandoah Valley Electric Cooperative (SVEC) and Rappahannock Electric Cooperative (REC) announced their plans to provide electric service to Allegheny Power’s Virginia consumers. The Allegheny service area will be split between SVEC and REC.
General Acquisition Information ( 32 KB).
On September 15, 2009, the acquisition was filed for approval by petition to the State Corporation Commission (SCC). On March 3, 2010, a hearing was held for SCC commissioners to evaluate the transaction. Prior to final briefs being filed in the case, on April 28, 2010, key parties announced that they had reached an agreement on the terms of the sale (for more information, please click on the link below).
On May 14, 2010, the SCC issued a final order in the case, which represents the regulatory approval required for completion of the transaction. Allegheny and SVEC anticipate closing the sale by June 1.
SVEC will be contacting Potomac Edison customers directly in the near future with information concerning the transition and any changes they might see as member/owners. Customers in the existing territory of Allegheny’s Potomac Edison subsidiary can expect a smooth and seamless transition to service provided by SVEC.
SVEC will now serve a total of eight counties, and will add more than 51,000 meters to its existing 39,000. SVEC’s number of employees will increase to 195 from 117.
The geography, increased “economies of scale”, system familiarity, and other factors leads to this as a natural fit for both SVEC and member/owners. Being a member/owner at a Cooperative ensures a commitment to reliable electric service, innovative solutions, stability, member services, representation on the board, and community involvement.
For more information about your Cooperative, click on New Member Packet ( 2 MB), Bylaws ( 272 KB) , and Terms and Conditions ( 252 KB). These booklets are a great resource and reference for many of the questions you may have about SVEC; answers to other questions may be found by surfing through our website. Of course, we welcome your questions and comments as you become acclimated to the Cooperative. Please feel free to call us at any time for any information you might need. Contact information is on page 3 of the New Member Packet booklet. We have District offices in Dayton, Mt. Jackson, and Staunton, with offices in Winchester and Luray scheduled to open soon.
Visit the SCC Web site (Case Number: PUE-2009-00101)
Rebuttal Testimony ( 9 MB)